The new provisional tax increase for 2025 is set to be 7.88 per cent, reflecting Council’s priorities of Safe and Resilient and Livable and Accessible.
The proposed budget originally saw an increase of 8.63 per cent but after two days of discussion by Council that number was reduced.
“The budget works to strike a balance between delivering the services that residents expect and deserve and, at the same time, ensure we’re doing it in fiscally responsible way that recognizes the economic challenges people face,” says Mayor Julius Bloomfield. “We’re making investments in community safety and continuing to focus on creating more accessible housing. We’ve been able to reduce the proposed tax increase to lessen the impact.”
The impact for the average residential taxpayer is approximately $14 a month. The City’s 2025 capital budget is estimated at $31.3 million.
The proposed 2025 increase includes the final year of the tax deferral that was introduced in 2022 and supported a significant increase in public safety investments which equates to 3.06 per cent.
The 2025-2029 draft Financial and Corporate Business Plan includes:
- the hiring of two more police officers to create a Community Safety Unit;
- expansion of the Remote Guard Camera Program;
- a Fire Inspector within the Fire Prevention Division;
- the creation of a Community Safety and Wellbeing Plan
- Advancement of the future Community Safety Building for RCMP Community Policing/Bylaw Services and the Fire Hall renewal plan that includes a newly constructed Fire Hall #2 at Dawson Avenue and the transition of Fire Hall #1 to a satellite hall at Nanaimo Avenue
- Support for housing affordability with the creation of an affordable housing incentive policy, development of housing on City-owned land, area plans for Transit Oriented Areas and implementing the Social Housing and Infrastructure Plan (SHIP)
- Expansion of the Frost Fest Winter Carnival in January 2025 to increase vibrancy, attract visitors and support a connected community
- Progression of the City’s recently adopted Urban Forest Master Plan
- Continued investment in aging utility infrastructure
Council also deferred a decision on the Skaha lacrosse box to coincide with the Sports and Recreation Needs Assessment. As well, Council approved a reduction of the Kiwanis Pier replacement from $1.8 million to $800,000 and will seek community contributions with a view to extending the length of the pier.
The provisional budget is scheduled to be adopted on December 17.
The budget can viewed at www.penticton.ca/2025-budget
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